Obama’s money men: Flush with cash and ready to give

Shrek would be green with envy. Movie producer Jeffrey Katzenberg is animating the presidential race this election season, raising more money than any other Democratic donor.

The DreamWorks Animation CEO joins two other media moguls, a personal-injury lawyer and a philanthropist in giving millions of dollars to help President Barack Obama win a second term. They are helping fund a presidential election on track to cost nearly $2 billion, with money going toward the individual Republican and Democratic campaigns as well as independent, “super” political committees working on the campaigns’ behalf.

Political donations can open doors that are closed to most people. Big-dollar donors are often invited to state dinners at the White House and other events with the president. They also may be asked to weigh in on public policy, especially if it affects their own financial interests. And the ranks of ambassadors, advisory panels and other government jobs traditionally are filled with those who have been unusually generous during the campaign.

Based on an examination of more than 2.3 million campaign contributions — the methodology is below — The Associated Press has ranked the top five financial supporters of Obama’s:

Katzenberg is President Barack Obama’s top donor when tallying his contributions to a “super” political committee, money to Obama’s campaign and the money he arranged for others to write for the president. The biggest contributions include $2 million to the Priorities USA Action super PAC. It was founded by former White House advisers and is the key pro-Obama PAC this election cycle. Katzenberg has helped “bundle” more than $500,000 for the president’s second term, making him among the campaign’s top volunteer fundraisers. He’s also given more than $66,000 to Obama’s campaign and the Democratic Party. The Hollywood icon has been invited to White House events, including a state dinner. Such high-profile soirées put him in proximity earlier this year to Chinese Vice President Xi Jinping, who signed off on an overseas deal benefiting Katzenberg’s studio.

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No. 2: Irwin Jacobs, 78, the founder and former chairman of Qualcomm.

Total: $2.122 million

Jacobs has given more than $2 million to pro-Obama super PACs and about $23,000 directly to Obama’s campaign and the Democrats. But he’s no newcomer to political giving: The La Jolla, Calif., billionaire has routinely backed San Diego-area politicians, including those in City Hall. Some of his local proposals have caused dust-ups in town, including one backed by San Diego’s mayor that would have changed the name of Qualcomm Stadium for 10 days to reflect the cellphone-maker’s new computer chip. Another proposal wanted to alter automobile traffic and parking in the city’s historic Balboa Park; that plan that was overwhelming approved by city officials, although a firm tied to Jacobs spent $34,000 to lobby the San Diego government for the change.

Eychaner has given $1.5 million to the Priorities USA Action super PAC. He’s also given more than $60,000 to the president’s re-election committees, and he’s listed as a major “bundler” for Obama, having raised at least $500,000 for the president. Eychaner, a gay-rights activist, also has donated millions to other nonprofit groups, including more than $1 million to the progressive EMILY’s List organization. He’s visited the White House several times since early 2009, according to records, and Obama appointed Eychaner to the board of trustees of the John F. Kennedy Center for the Performing Arts. During the 2008 election cycle, Newsweb spent more than $1.7 million on Illinois elections and about $200,000 on the federal level, according to the Center for Responsive Politics.

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No. 3 (tie): Jon Stryker, 54, a Michigan philanthropist.

Total: $2.066 million

Stryker has given $2 million to the Priorities USA Action super PAC and has given $66,000 in contributions to Obama and the Democratic Party. Stryker is the heir to namesake Stryker Corp., the major medical-device and equipment manufacturer. Stryker has been active in politics before the 2012 election; he contributed millions to help Democratic candidates statewide. And he also has given nearly $250 million of his personal wealth to groups supporting gay rights and the conservation of apes.

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No. 5: Steve Mostyn, 41, a Houston-based personal injury attorney.

Total: $2.003 million

Mostyn has given more than $2 million to the Priorities USA Action super PAC that’s helping Obama. Mostyn, the former head of the Texas Trial Lawyers Association, is a major backer of Democratic candidates in the state. He’s also sank cash into a Texas political committee that tried unsuccessfully to unseat Gov. Rick Perry two years ago. Most famously, in 2009, Mostyn demanded tens of millions of dollars for property owners affected by Hurricane Ike in claims against the Texas Windstorm Insurance Association.

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METHODOLOGY

These rankings by The Associated Press, based on campaign financial reports submitted to the Federal Election Commission, include contributions to super PACs, presidential campaigns, political parties and joint-fundraising committees that help Obama. Federal law limits maximum contributions to campaigns, parties and affiliated committees, but federal court rulings have stripped away such limits on super PACs. This analysis excludes secret-but-legal contributions that might have been made to nonprofit groups, which can pay for so-called issue ads that don’t explicitly advocate for or against a candidate. Such groups are not required to identify their donors.

Where available, the analysis considered donations “bundled,” or raised, from other wealthy donors for Obama or Republican nominee Mitt Romney. Obama periodically identifies his bundlers, although Romney has resisted repeated calls to do the same.

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One Response to Obama’s money men: Flush with cash and ready to give

Sandy Price

October 19, 2012 at 10:00 am

I’m glad to learn that our side has some wealth too! I don’t any organized war efforts against Romnney with this bunch. Dream works has a great reputation of good clean entertainment. No planned wars with Iran anywhere.